Reference no: EM133137133

Question - On December 31, 2020, the bookkeeper of Poveous Company provided the following information:

Accounts payable, (net of P60,000 debit balance in creditors' account) P640,000; Note payable (including note payable to bank on December 31, 2022 of P1,000,000) P1,500,000; Salaries payable, P800,000; SSS Payable, P30,000; Pag-ibig Payable, P5,000; Medicare Payable, P15,000; Withholding tax payable, P60,000; Vat Payable, P120,000; Current tax payable, P155,000; Deferred tax liability, net of P120,000 Deferred tax asset, P220,000; Customers' accounts with credit balances, P50,000; Stock dividends payable, P800,000; Serial bonds (payable in semiannual installments of P500,000 with the final payment to be made on December 31, 2026) P5,000,000; Finance lease liability (payable in annual installments of P600,000), P2,400,000; Accrued interests on bonds and notes payable, P300,000; Estimated warranties payable, 420,000; Estimated liability for environmental damages (required by the court to be settled within the next six months) P50,000; Unearned rent income, for 3 years starting January 1, 2021, P150,000; Cash advances from shareholders, P200,000; Financial liability at fair market value P80,000.

Required -

1. How much from the items presented above comprise the company's current liabilities?

2. How much from the items presented above comprise the company's non-current liabilities?